2008 is the reset year for the 19 year office-space supercycle; could be some fantastic opportunities arising in 09.2. Commercial is about to get chopped up - note JPMorgan's bank analyst on the DJ newswire today talking about the denial in commercial at the moment:
"Commercial property values haven risen to the point where yields are at historic lows compared to interest rates, which suggests that either (i) the Australian 5 year swap rate is going to fall 300 basis points, (ii) rents are going to double, or (iii) commercial property prices are going to fall 50%,"
Lemme tell ya, rents aren't doubling in a bear market and rates aren't dropping 300bps with inflation above 3%
hello,
let me remind people of a couple of things:
isnt property still 7-8x average salary?
as that is what people are always telling me, which means guess what lads property is still as high as ever
thankyou
robots
Uuuummmmm, I don't think ramping overpriced property is a service to society.
When making people laugh, I've found it's better to have people laugh with you instead of at you, and ramping over-priced property isn't really a laughing matter either...
I understand all of the above. What I don't like is the manipulation of people by the banks(easy credit) and agents(ramping) that drives the mania. The thing that disgusts me the most is when people come to the conclusion that unless they buy at rediculous prices they will never have the opportunity to own a house.When it comes to the roof over our head we're a passionate lot aren't we???
Price, remember, must always be coupled with a perception of value in order to determine if something is over or under or fairly priced. If you had to pay more tomorrow for the same property, does it instantly become over-priced?
You can't blame a real estate agent or a property investor for trying to sell their stock. They're reward (ie. their roof over their head) is aligned with that goal. Buyers agents are the people it sounds like you need to find.
ASX.G
http://www.thisislondon.co.uk/news/...credit crunch, warns City watchdog/article.do
1 million could lose their homes.
UK Home Prices To Drop 10% In 2008?
http://www.dailymail.co.uk/pages/live/articles/news/news.html?in_article_id=510980&in_page_id=1770
Knowing all of this put's me in the position to become quite wealthy, but it doesn't mean I have to like the scam...
A new survey finds Perth house prices rose just 1.7 per cent in 2007, the weakest in the country.
Our Perth Cousins have got a good dose of stagnating (or worse) over 07.
What they don't tell you is that it's the premium property's that keep the median house prices artificially inflated, while the outer suburbs median prices start falling.
Looking at the debt loading of Aussies, our bust is going to make the Americans Bust look like a walk in the park...
one more thing more of a question.
If a person is facing economic hardship ie. about to loose their house isn't there a law stating that you can pull money out of your super to get you out of trouble?
Also i didn't think americans even had a super system so we must have much less debt than them because we by law have forced savings?
Superannuation fund trustees and RSA providers administer the release of benefits on the ground of severe financial hardship according to a simple objective test as well as a subjective test. That is, to be granted an early release you must:
be in receipt of a Commonwealth income support payment, and have been so, continuously, for the last 26 weeks; and
satisfy the trustee/RSA provider that you are unable to meet reasonable and immediate family living expenses.
Commonwealth income support payments include social security or service pensions; certain social security benefits; income support supplements; drought relief payments; exceptional circumstances relief payments; and Commonwealth Development Employment Projects (CDEP) Scheme payments.
If you satisfy both of the above tests, the trustee/RSA provider may, in any twelve month period, release to you one lump sum payment. The lump sum payment is to be no more than a gross amount of $10,000 and no less than $1,000 (or the balance of your benefit if it is less than $1,000).
If we do experience a slowdown wouldn't interest rates come down in OZ thereby relieving stress on home owners not to mention the almost given drop in oil prices we will have due to reduction of demand.
Interesting. Still say the Herald Sun ar prop rampers. well see
Also i didn't think americans even had a super system so we must have much less debt than them because we by law have forced savings?
hello,
ha ha ha ha ha, still out sunning thenselves NC, most not back to mid feb how you dream for that job
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